Club L London almost triples in size as it targets international expansion
Fashion retailer Club L London is targeting international expansion after almost tripling its sales and headcount over a two-year period.
The Manchester-headquartered company achieved a turnover of £44.4m for the 14 months to 31 March, 2024, newly-filed accounts with Companies House have revealed.
The latest sales figure comes after Club L London’s turnover stood at £29.5m in the prior year and £15.7m in the 12 months before that.
The results also show that the company’s headcount increased in its latest financial period from 64 to 94.
Club L London, which was founded in 2007, employed 35 people in January 2022.
Profit dip for Club L London
Despite the sales success, the firm’s pre-tax profit dipped from £3.6m to £3m in the financial period.
Club L London said that it had been battling “poor consumer confidence” which was caused by caused by “high and persistent inflation and a cost-of-living crisis”.
However, the business added that its directors are confident that its pre-tax profit will pass the level it was at in January 2023 during 2025.
It also said it was expecting growth in the UK as well as oversees.
A statement signed off by the board said: “The extended 14-month financial period… was a period of continued growth for the brand.
“This is despite a backdrop of poor consumer confidence caused by high and persistent inflation and a cost-of-living crisis.”
Club L London added: “The directors are confident that profit before tax will increase back to beyond prior year levels during 2025 following continued growth in the brand in the UK and internationally.”